Steve, with tenants who’ve been in a place for 40 years, you’re really dealing with a different category of renter — these folks have basically treated the place as their home longer than many owners stay put.

There are pets upstairs and just put in new good quality LVP last year, so I'd rather treat the source of the issue (better than I have been) beforethrowing replacing LVP with carpet. 

If you find a good one, treat them like gold- they're a valuable business partner, not someone who "works for you."

This is a business and you should treat it as such.

What to look for in a good rent-by-the-room propertyThis matters a lot:• At least 3–4 legal bedrooms• Two or more bathrooms• A layout where bedrooms don’t share thin walls• Plenty of parking• A common area large enough for multiple people• A location near hospitals, colleges, or job centers• A basement or attic that can be finished legallyAnd most important:A floor plan where rooms feel private.Privacy is what keeps tenants staying longer.My honest adviceAt your age, with energy and time on your side, this strategy can fast-track you if you treat it like a business.But don’t do it blindly.Tour existing co-living houses in your area.Study your local ordinance.Model the extra expenses and the extra time.Room-by-room renting works, but it works because the operator is organized, not because the property magically prints money.

From a tax angle, flipping is treated as active income, so once you start doing consistent deals you will want the right setup, often an S Corp, to avoid paying more tax than you need to.The best first steps are to learn how to analyze deals, build your team (a lender with creative financing options, a real estate agent in the area you're interested in, and maybe a CPA), and understand your numbers so your first flip is profitable after taxes.I just sent you a DM with a resource that might be helpful for you in this situation, so feel free to check it out.

If you treat your people like a transaction, a stop along the way, you will ALWAYS be chasing the next lead NOT attracting it. 3) Be Patient - Consistency Compounds - Most people overestimate what they can actually do in six months and grossly underestimate what they can do in three years.

They treat their portfolio like a business, not a side hustle.

Financing costs get their own bucketPoints, underwriting fees, appraisal, inspection, credit pulls, all treated as loan costs so they’re amortized correctly.

Treat this as a Buyers' market.